Abstract: The hot pressing and hot deforming Nd₂Fe₁₄B/α-Fe nanocomposites were produced by Spark Plasma Sintering technique. Effects of pressing conditions of the microstructure and magnetic properties of themagnets were investigated. The results show that with the increase of hot press temperature, the density and the remanence of the magnets increase, while the coercivity decreases gradually, which leads to the rising of the energy at first and then decreasing. The maxium was at 94.7 kJ/m³. After hot deformation, the <00L> axis of Nd₂Fe₁₄B crystalline turned parallel to the direction of compressive pressure, thereby the magnetic anisotropic magnets were gained. However, the grain size became quite large due to high deforming temperature, therefore, the magnetic properties reduced sharply accordingly.